After closing last week on a bullish note, Chainlink (LINK) price action shows further potential for an upsurge soon. Furthermore, the Chainlink network has a working business model that has already attracted notable institutional investors and web3 developers in the industry to tap into its products.
The reputation earned over the past few years is expected to help LINK price rally parabolically in this crypto bull cycle. Nonetheless, the short-term LINK price action is still largely influenced by Bitcoin (BTC), and Ethereum (ETH). Moreover, the crypto cash rotation from Bitcoin has been favoring altcoins with impressive development track records and vibrant online communities.
